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Updated June 2023

Buying an Australia property as an immigrant on a visa can be difficult. Whether you are a permanent resident or a temporary resident, there are many visa requirements as well as Foreign Investment Review Board (FIRB) requirements a migrant must be aware of. When investing in Australian property temporary residents, foreign investors, and even visa holders may be approved to purchase using home loans.

Australia has strict guidelines for foreign non-residents and temporary residents who wish to purchase a house in Australia. Back in March 2015, a Sydney residential property bought for A$39 million, the “Villa del Mare”, received instructions from the Treasurer of the Australian Government that it must be sold off. The purchase was found to be not compliant with the Foreign Acquisitions and Takeovers Act (1975), which requires foreign investors to notify the Treasurer through the Foreign Investment Review Board (FIRB) before purchasing residential real estate. Since then there have been additional properties that were found to be illegally purchased and forced to be sold.

Who creates and enforces the guidelines on purchasing properties as a foreign non-resident or temporary resident?

The Foreign Investment Review Board (FIRB) is the governing body which ensures residential properties are bought in compliance with the Foreign Acquisitions and Takeovers Act (1975). In addition to the assessment of foreign purchase of residential property, the FIRB also assesses foreign investment in Australian businesses, especially in agriculture and mining.

The FIRB serves as a control to prevent foreign investors from over-inflating residential property prices through excessive investment. As such a list of requirements was created to ensure local Australian interests are protected.

What residential properties can be bought by an Australian temporary resident? How is it different for permanent residents?

Australian permanent residents share the same treatment as Australian citizens with regards to the purchase of residential property. There are no FIRB restrictions for permanent residents. 

On the other hand, temporary residents and foreign non-residents are subject to various rules when purchasing residential property.

What is the definition of a temporary resident or foreign non-resident for the FIRB assessment?

According to the FIRB, a temporary resident is an individual who:

• holds a temporary visa that permits them to remain in Australia for a continuous period of more than 12 months (regardless of how long remains on the visa); or
• is residing in Australia, has submitted an application for a permanent visa, and holds a bridging visa which permits them to stay in Australia until that application has been finalized.

Temporary residents would include holders of the following Australian visas:

• All temporary visas
  • Temporary Skilled Shortage visa (subclass 482)
• Business Innovation and Investment (Provisional) visa (subclass 188/888)
• Student visas that are 12 months or longer, such as:
  • Independent ELICOS Sector visa (subclass 570)
  • Schools Sector visa (subclass 571)
  • Vocational Education and Training Sector visa (subclass 572)
  • Higher Education Sector visa (subclass 573)
  • Postgraduate Research Sector Temporary Visa (Subclass 574)
  • Non-Award Sector visa (subclass 575)
• Temporary Graduate visa (subclass 485)
• Skilled Regional (Provisional) visa (subclass 489)

Previously, the 457 Temporary Work Visa would also be included until it was replaced by the TSS 482 Visa.

If your temporary visa is less than 12 months you are considered to be a foreign non-resident.

What are the rules for purchasing a residential property as a temporary resident?

Residential properties are categorized as “new dwellings” or “established dwellings”

New Dwellings

New dwellings are homes built on residential land which has not been previously sold as a dwelling and has:

• not been previously occupied; or
• if the dwelling is part of a development and sold by the developer, it has not been previously occupied for more than 12 months in total

A refurbished or renovated residence which was previously occupied is not considered to be a new dwelling. Vacant land bought for residential construction is deemed to be a new dwelling instead. As such, “Home and Land” packages are considered to be new dwellings too, as long as:

• the development is completed within four years from the date of approval
• evidence of completion is submitted to the FIRB within 30 days of being received

There are no conditions or limitations on the number of new dwellings that can be purchased by a temporary resident. Approval is generally required before the purchase is made.

Established Dwellings

Established dwellings typically refer to residential properties that are on the secondary market. If a residential property is constructed and occupied, it is usually considered to be an established dwelling.

Temporary residents can purchase ONE established dwelling to live in as their primary residence in Australia. The property should not be used for leasing. The property also should be sold within 3 months if the temporary resident moves out of the established dwelling. In other words, an established dwelling cannot be purchased by a temporary resident to be held as an investment property. Additionally, temporary residents who want to purchase an established dwelling for redevelopment must seek prior approval from the FIRB before purchasing the property.

What are the fees associated with buying a property on a visa?

A visa holder purchasing a property will be subjected more fees and higher rates/interest rates than an Australian citizen or permanent resident. Two fees every visa holder must factor in are the FIRB acquisition fee and the Stamp Duty.

FIRB Acquisition Fee

When lodging your application with FIRB you will be prompted to pay an acquisition fee.

Acquiring an interest in residential land where the price of the acquisition is:

• $1 million or less: $13,200
• $1 million to $1,999,999: $26,400
• $2 million to $2,999,999: $52,800
• $3 million to $3,999,999: $79,200
• $4 million to $4,999,999: $105,600
• $10 million or higher: contact the Australian Tax Office for a fee estimate

View the full FIRB acquisition fee list and more details here.

Stamp Duty

Foreign citizens who want to buy or invest in residential property in Victoria (VIC), New South Wales (NSW), Queensland (QLD), South Australia (SA) and Western Australia (WA) will need to pay an additional stamp duty levy and, in some states, a land tax surcharge.

Foreign Citizen Additional Stamp Duty Surcharge By State:

• Victoria: 8%
• New South Wales: 8%
• Queensland: 7%
• South Australia: 7%
• Western Australia: 7%
• Tasmania: 8%
• Northern Territory: Currently no stamp duty

See the complete and detailed list of Foreign Citizen Stamp Duty and Taxes.

*Note: Please confirm true, up to date tax rates with state government as government bodies and tax rates do change.

There is also the possibility of being charged an annual vacancy fee. From 9 May 2017, foreign persons who purchase residential real estate will be subject to an annual vacancy charge where the property is not rented out or occupied for more than six months per year.

There are several fees, taxes, and rates that differ between states and the specific visa you are carrying. When buying property in Australia, it is highly recommended that you speak with a professional tax agent/ the Australian Taxation Office, and an accountant to ensure that you know all the fees.

At what stage do I need FIRB approval and will I be disadvantaged?

The FIRB guidelines state the you must have approval before a property can be purchased in Australia.

An offer to purchase a property may need to be conditional on FIRB approval, which may lead to delays and the offer not being accepted or as attractive as others without such conditions. The regulations state that you must complete a separate application for each property you intend to purchase. This issue can be mitigated by applying for what is called an 'Exemption Certificate'.

An Exemption Certificate allows a foreign person to purchase one unspecified property within a six-month period. The exemption certificate means that you do not have to seek individual approval for each property you are interested in. More information is available from the Australian Tax Office.

Are there any barriers to getting finance approved?

Your status as a temporary resident may impact your ability to secure finance to purchase property in Australia. Financial institutions have different restrictions on the amount you can borrow depending on your visa type and status.

Being self-employed or a business owner may also have an impact on how much you can borrow. Contacting your financial institution or financial adviser for more information.

What happens if I do not comply with the FIRB policies?

Violations or “Breach" of the FIRB policies will incur a criminal and civil penalty. Additionally, the property in question will be forced to be sold as the ownership is deemed illegal. As such it is best to comply with the FIRB policies and always contact the FIRB if you have any doubts about the procedures and requirements. You can find the contact information for the FIRB on their website listed below.

How does buying a property help a 188A Business Innovation visa holder apply for PR?

A criterion for the subclass 888 Business Investment Stream permanent business visa is that the you must meet two of the following three requirements:

• assets of AUD200,000 net value in your main business (or 2 main businesses) in Australia
• personal and business assets in Australia of AUD600,000 net value
• equivalent of at least 2 full-time eligible employees in your main business

By meeting the first requirement for business assets and also buying property, meeting the second requirement should be straight forward considering the median price of a house in Australia is over AUD500,000. This would achieve the two out three criteria meaning that the business would not need to employ two full-time eligible employees.

Does owning property enhance a permanent residence or citizenship application?

Owning a property is not an essential criterion to be met when applying for permanent residency or citizenship.

In the case of citizenship, owning a property is considered by the Department of Home Affairs in assessing the 'close and continuing link to Australia' criteria. However, it is not a compulsory requirement, and other factors such as family connections, work history, and time in Australia are also considered. 

As a temporary resident, can I rent out the properties I have purchased?

Temporary residents may have the intentions to build up a portfolio of residential properties as a form of investment. Upon purchase, many of these properties are rented out to generate passive rental income. As a temporary resident, you can do so as long as the properties being rented out are all new dwellings. By regulation, you can only purchase one established dwelling for your own residence, and not rent it out.

Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers

The purchase of residential property is a primary consideration for many Australian visa holders. Residential properties may be purchased as a family home and primary residence, or as a safe asset for investment. If you are a temporary residence visa holder, you need to check with the FIRB to ensure you comply with the investment policies. Failure to comply with the requirements may cause unnecessary financial losses and frustrations.

As a rule of thumb, if you are a temporary resident in Australia you must seek approval from the FIRB first before purchasing a property.

As a permanent resident, the FIRB restrictions will be lifted and as such, it is recommended that temporary residents apply for permanent residency once they are eligible. With permanent resident status, you can safely invest and purchase residential properties knowing that you are exempted from FIRB requirements.

Work Visa Lawyers understand that owning a home is a big step in settling down in Australia. We hope that this article has provided you with the necessary knowledge about purchasing your first home in Australia.

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Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications. Our areas of expertise include Skilled Migration visas, Business Skills Migration visas, Employer Sponsored Work Visas, Partner and other Family Migration visas as well as Migration Review Tribunal, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

Phone (08) 8351 9956 or +61 8 8351 9956 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Sources

• https://firb.gov.au/
• http://jbh.ministers.treasury.gov.au/media-release/011-2015/
• http://sjm.ministers.treasury.gov.au/media-release/010-2015/
• http://www.border.gov.au/
• https://firb.gov.au/guidance-notes
• https://www.homeloanexperts.com.au/non-resident-mortgages/foreign-citizen-stamp-duty/
• https://www.ato.gov.au/General/Foreign-investment-in-Australia/Residential-investment/Exemption-certificates-for-foreign-investors-of-residential-real-estate/

Even though the Business Talent 132 visa is available throughout all of Australia, South Australia sponsors over 50% of all 132 visa applicants every year.

So, why is South Australia so attractive to 132 visa migrants?

Business Visa

The subclass 188 Business and Investment visas are temporary residence visas. The 188 visa is an attractive business visa as it allows migrants to conduct business and investment activity in Australia or undertake entrepreneurial activity in Australia. Moreover, you would like to be a business owner, the subclass 188 business visa will allow you to manage a new or existing business in Australia.

In the past month, the South Australian government has finalized some ground-breaking developments for the state. First, we witnessed the creation of a new visa, the SISA visa, which aims to attract an array of young dedicated entrepreneurs. Second, a massive contract has been signed to transform Whyalla steelworks industry. Most notably though, this morning Adelaide has been granted the headquarters for Australia’s first dedicated space agency.

“This Is what vision looks like”

- Prime Minister Scott Morrison

Work Visa Lawyers was pleased to accompany some of our business visa holders to the ACBC South Australian & Immigration SA Central Adelaide Trade Showcase. We would like to thank Immigration SA, as well as the China Business Council (ACBC), and KPMG for hosting the fantastic event.

When starting a business in Australia you need to make sure you have the right visa. You can do this by using a registered Australian migration agent such as, Work Visa Lawyers. Whether you want to establish a large or small business in Australia, it is important that you and your business have all the correct certifications. To do this, we recommend you get help when structuring your business. ABN Australia is a trusted and establish company who can help you do that. It is also important that you use an analyst to monitor your investments, expenses, and general accounting to ensure your business is operating legally.

The US and the UK are tightening their immigration policies. President Trump implemented a travel ban and has repeatedly emphasised that he will be evaluating the country’s immigration policy and introduce tougher screening of visa applicants. While the travel ban has been removed by the US Federal court there is no stopping the President from giving out another executive order of similar nature. In the UK there has also been a stir up as the British government looks to cap the number of international students to the UK. The trend in the development of immigration policies in these two countries has startled migrants and temporary-stay workers and students, who now ponder their future in the US or the UK.

This presents Australia with an opportunity to attract genuine skilled professionals, aspiring students and potentially business and investor migrants to Australia. The US and the UK have long benefited from their preferred migrant destination status for many years, with many entrepreneurs, technology innovators and brilliant scientists settling down in the US or UK. Now Australia may stand to gain from opening its borders to attract talent, skills and investment from overseas.

What are the visa options available for Australia?

The state of New South Wales (NSW) has announced its state nomination criteria for the Entrepreneur visa. This makes NSW the first state or territory to start accepting applications for nomination under the Entrepreneur visa. No other Australian state or territory has published their criteria as yet.

The NSW criteria is summarised as below:

- You will need to meet the eligibility criteria as outlined by the Department of Immigration and Border Protection

- You must submit a business plan detailing your entrepreneurial venture

- The NSW State Department must approve your business plan and be satisfied that the outlined venture will develop an enterprise or business in NSW, or commercialise a product or service in NSW

- You must have sufficient assets for settlement in NSW

You should also read up on the additional explanation provided by the NSW State Department about the complying entrepreneurial activity and acceptable funding here.

As described by the NSW State Department:

“NSW Entrepreneur visa nomination criteria continue to demonstrate our commitment to make Sydney and NSW a competitive business migration destination by making it simple and easy for potential Entrepreneur visa applicants.”

“As Australia’s capital of innovation, NSW is committed to making it easier for talented entrepreneurs to migrate and settle in Sydney and NSW.”

If you need further clarification about the NSW state nomination criteria for the Entrepreneur Visa you can arrange a meeting with the multilingual Business Migration Relationship Officers in the NSW State Department. You will be able to contact them by:

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Call: +61 (2) 9934 0704 (9:00 am – 5:00 pm AEDT Monday to Friday).

Alternatively contact Work Visa Lawyers to assess which business or investment visa option is more appropriate for your circumstances. Our Registered Migration Agents are familiar with all business and investment migration visa options, and will be able to explain the visa requirements and application procedures to you.

Sources:

http://www.industry.nsw.gov.au/live-and-work-in-nsw/visas-and-immigration/business-migration/state-nominated-visa-categories#1

http://www.industry.nsw.gov.au/__data/assets/pdf_file/0004/92479/entrepreneur-visa-criteria.pdf

Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers

New South Wales has acted swiftly to attract more investment into the state. As the number one business and investment migration destination in Australia, the quick action to establish and announce the nomination criteria will further attract entrepreneurs to set up in New South Wales.

The criteria announced are very generous and do not add more difficulty above the Department of Immigration and Border Protection (DIBP) requirement. The big benefit may be those who assist with writing business plans as a strong business plan is essential for a NSW nomination approval.

The remaining Australian states and territories need to launch their nomination process as soon as possible before the majority of eligible entrepreneurs head to New South Wales under the Entrepreneur visa. Otherwise they might have to introduce a looser requirement to attract entrepreneurs at a later stage.

This information is accurate on 28 October 2016

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications. Our areas of expertise include Skilled Migration visas, Business Skills Migration visas, Employer Sponsored Work Visas, Partner and other Family Migration visas as well as the Administrative Appeals Tribunal (AAT) Review, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956

or   This email address is being protected from spambots. You need JavaScript enabled to view it.

The new Entrepreneur Visa which was first mentioned in December 2015 will be open for applications before the end of 2016, according to the announcement by the Australian Government National Innovation and Science Agenda. The legislative instrument which lists the criteria for the new Entrepreneur Visa was registered on 6^th September 2016 and contains the following information about the new visa stream:

- The Entrepreneur visa will be part of the Business Innovation and Investment visa programme

- Applicants will need to submit an Expression of Interest (EOI) and be nominated by a State/Territory government

- The entrepreneurial entity should not be related to residential real estate or labour hire or involve purchasing an existing business or franchise

- The applicant needs to be below age 55 (unless exempted by the nominating State or Territory) and have Competent English (IELTS 6.0 in all components or equivalent English test results)

- One or more funding agreements for a total sum of at least A$200,000 must be obtained from an approved third party, which includes State and Territory governments, Commonwealth agencies, Publicly Funded Research Organisations, and investors registered as a Venture Capital Limited Partnerships (VCLP) or Early Stage Venture Capital Limited Partnerships (ESVCLP)

- The applicant must have a business plan outlining activities for the venture

Applying for Australian Permanent Residency as an Entrepreneur Visa Holder

The holder of the new Entrepreneur visa will be eligible for permanent residency through the Business Innovation and Investment (Permanent) visa (subclass 888) after holding the Entrepreneur visa for four years. The visa holder will also need to:

- Reside in Australia for at least 2 of the last 4 years

- Demonstrate success in the entrepreneurial venture, with consideration to:

• the number of Australian citizens and permanent residents employed by the venture
• the level and nature of funding and investment for the venture
• the annual turnover of the venture

- maintain an ongoing relationship with the nominating State/Territory Government (visa condition 8571)

As the Entrepreneur visa is at its early introduction stage, we will be bringing you more updates once they are available. Follow Work Visa Lawyers on Facebook, Twitter and Google+ to receive the latest news about Australia migration and visas.

UPDATE 12 September 2016

The success of the entrepreneurial venture is demonstrated by completing at least two key success factors or a combination of one key success factor and three supporting success factors.

Key success factors include:

• Employing two or more Australians, permanent residents or other eligible persons
• Generating an annual turnover of at least AUD300 000
• Filing a provisional patent or acquiring a standard or innovation patent
• Receiving ongoing funding or investment in your entrepreneur activity
• Entering into a partnership with a University
• Selling an entrepreneurial venture for AUD2,000,000.

Supporting success factors include:

• Diversifying entrepreneurial activities into other business areas
• Receiving a statement of success from a state or territory government nominator
• Receiving sponsorship from the corporate sector
• Starting at least one other business or contributing to at least two other businesses
• Receiving formal awards or recognition
• Raising or contributing to social capital.

Please check with Work Visa Lawyers if you have questions about the requirements.

Sources:

1. http://www.innovation.gov.au/page/supporting-innovation-through-visas
2. https://www.legislation.gov.au/Details/F2016L01391
3. http://www.border.gov.au/Trav/Visa-1/188-
4. http://www.border.gov.au/Trav/Visa-1/888-

Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers

While the visa requirements for the Entrepreneur visa look simple based on the information currently available, discussions with industry specialists have highlighted the fact that obtaining approved funding from an approved third party will not be easy and straightforward. The second stage will also require caution as the success factors to be demonstrated are not clearly defined at this moment.

Opportunities for Accountants and other potential migrants

The Entrepreneur visa may be helpful for visa applicants of other streams or categories who are facing long processing/waiting periods for their visa. A good example of this would be general skilled migration applicants who are accountants, but are sitting on less than 70 points on the points test. An innovative idea may allow the applicant to apply for the Entrepreneur visa, and obtain a visa faster than the general skilled migration visas.

More information will be provided once they are available.

This information is accurate on 7 September 2016

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications. Our areas of expertise include Skilled Migration visas, Business Skills Migration visas, Employer Sponsored Work Visas, Partner and other Family Migration visas as well as the Administrative Appeals Tribunal (AAT) Review, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956

or   This email address is being protected from spambots. You need JavaScript enabled to view it.

CAKES and SWEETS!! A whole box of them!!

Work Visa Lawyers had the pleasure of receiving a gift of appreciation from our client Mr. Rahimi, who recently received the grant of his State/Territory Sponsored Business Owner (subclass 892) permanent residence visa. The boxful of traditional sweets and cakes was a treat and all of us at Work Visa Lawyers thank him for his gracious gesture.

When Mr. Rahimi first came to meet with Principal Migration Agent and Lawyer Chris Johnston, he had no idea about the requirements for him to apply for the subclass 892 permanent residence visa. In his mind he thought that he would be automatically eligible for permanent residency since he has been operating a business in Australia.

Thankfully time was on his side because he sought professional and accurate migration advice from Chris early on. As such he was able to strengthen his application by putting more effort into the business and thus allowed him to apply for the subclass 892 permanent residence visa before his initial State/Territory Sponsored Business Owner (Provisional) visa (subclass 163) expired.

With his kind permission we are able to share this wonderful news with everyone. Ultimately for all of us at Work Visa Lawyers the best reward we can get is to see a joyous and grateful client successfully obtain his Australian visa for further stay in Australia. The cakes...??? They are just a sweet bonus.

Chris with Mr. Rahimi

Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers

It was very satisfying to be able to assist a client who has successfully established his business in Australia and successfully obtain his permanent residency in Australia. It is worth noting that the success of the application was also because of Mr. Rahimi’s initiative to seek professional migration advice early to ensure he will be able to fulfil the permanent visa application requirements.

In my many years in the Australia migration industry, I have seen many temporary residence business migrants forget about the requirements for the second stage permanent visa application. Most panic when the end of their temporary residence visa is ending and by then it might be too late. I would like to advise all temporary business migrants to seek advice or monitoring from Registered Migration Agents to ensure that the business/investment requirements in Australia are being met for the purpose of the permanent residence visa application at a later stage. It would be gut-wrenching to find out four years later that you are unable to qualify for the permanent residence visa application.

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications. Our areas of expertise include Business Skills Migration visas, Employer Sponsored Work Visas, Skilled Migration visas, Partner and other Family Migration visas as well as Migration Review Tribunal, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

(08) 8351 9956 or +61 8 8351 9956

or   This email address is being protected from spambots. You need JavaScript enabled to view it.

The new fiscal year has arrived! Historically the Department of Immigration and Border Protection introduces changes to the Australian migration programme on the 1^st July each year. Below is a list of changes and news that has come into effect today:

• Change in English Requirements for Health Professionals
  - Nursing and Midwifery, Medical Practitioners, Dental Practitioners, Chiropractors and more
• Changes to the Business Innovation and Investment Programme
• Minor Change to Migration Skills Assessment for Accountants
• Increase in the Migration Review Tribunal Fees
• Increase in Visa Application Fees (VAC)

Changes to the English Requirement for Health Professionals

The Australian Health Practitioner Regulation Agency (AHPRA) has announced new English requirements for the registration standards of 10 common health professions, dental practitioners, medical practitioners, nursing and midwifery. Find out about the new requirements by clicking through the applicable links:

Common standard for 10 professions – Chinese medicine, chiropractic, medical radiation, occupational therapy, optometry, osteopathy, pharmacy, physiotherapy, podiatry and psychology.

Standard for dental practitioners

Standard for medical practitioners

Standard for nursing and midwifery

Applicants can now combine 2 IELTS scores or submit specific medical exams such as NZREX or PLAB to meet the registration standards. More detailed updates to follow.

Changes to the Business Innovation and Investment Programme (BIIP)

The BIIP will undergo some major changes as follows:

- Creation of a new Premium Investor Visa (PIV) stream for the 188 Business Innovation and Investment (Provisional) visa

• Investment of A$ 15 million
• No residency requirements
• Eligible for 888 permanent visa in 12 months’ time

- Allowing a secondary applicant (spouse only, excludes dependent children) of a 188 provisional visa to fulfil the requirements for the 888 permanent visa requirements – role-swapping

- Residency requirements for the 188C Significant Investor Visa (SIV) holders amended to be 40 days per year for the primary applicant and 180 days per year for the secondary applicant to qualify for the permanent 888 visa

- Extending the duration of the 188 visas to be valid for 4 years and 3 months

- Addition of the CEO of Austrade as a nominator for SIV applications. Austrade nominated applicants will not be restricted to reside in one particular state

- Preventing complying investments (significant or premium) to be used as collateral or security for a loan

- Complying significant and premium investments will need to be new investments and cannot be existing investments in Australia

There are more updates to follow, such as the nomination process for Austrade, suitable financial products under the new complying investment framework and so forth. Work Visa Lawyers will bring you the latest news once we receive them.

Change to Migration Skills Assessment for Accountants

The Core Knowledge Areas will be consolidated from 12 to 9 areas of knowledge. Applicants will need to meet at least seven (7) core areas to meet the skills assessment requirements, with the exception of External Auditors and Taxation Accountants who need to meet at least eight (8). For more details, visit the skills assessment bodies below:

CPA Australia  

Institute of Public Accountants 

Institute of Chartered Accountants Australia 

Increase in Migration Review Tribunal (MRT) and Refugee Review Tribunal (RRT) Appeal Fees

Fees for the review applications are now A$ 1673.

Increase in Visa Application Fees (VAC)

If you missed our earlier news entry on the VAC increments, click here to find out more. Don’t be surprised by the change in fees.

More to Follow

There are bound to be more changes to be announced from the Department as well as other related authorities such as skills assessments organisations, state migration departments and others. Visit our website to get the latest updates on changes as they are announced.

Newsworthy

Visa cancellations increase by 553 percent due to crackdown on foreign criminals

Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers

The biggest changes so far would be the lowered English requirements for health professionals and the reshaping of the business migration and investment visas. As the changes announced can mean a different visa option for affected individuals, do contact a professional registered migration agent to assess how the new changes affect you.

This information is accurate on 1 July 2015

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications, including state sponsorship applications. Our areas of expertise include Skilled Migration visas, Business Skills Migration visas, Employer Sponsored Work Visas, Partner and other Family Migration visas as well as Migration Review Tribunal, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

(08) 7225 5091 or +61 8 7225 5091

or   This email address is being protected from spambots. You need JavaScript enabled to view it.

Business visa options are popular among overseas business owners seeking to obtain an Australian visa for their family to settle down and enjoy a better quality of life in Australia. There are a few different options and each has its unique criteria and obligations to fulfil. The six visa options available on 1 July 2015 are:

• 188A Business Innovation
• 188B Investor
• 188C Significant Investor Visa
• 132A Significant Business History
• 132B Venture Capital Entrepreneur
• Premium Investor Visa

Work Visa Lawyers has created a summary that provides an overview of the options. The summary includes new complying investment requirements for the 188C Significant Investor Visa (SIV) and the new Premium Investor Visa (PIV). Click on the images to load the table in a larger format.

Do take note that the summary is an overview of the business and investment visa options available and your personal circumstances will need to be assessed to determine your eligibility for the visas available. Contact Work Visa Lawyers if you need our Registered Migration Agents to assess your eligibility for the visas above.

What are complying investments?

Complying investments are investment products designated by the Australian Government for the investment purposes of the 188C SIV and the new PIV.

Complying investments for a Significant Investor visa include:

• At least AUD500,000 in eligible Australian venture capital or growth private equity fund(s) investing in start-up and small private companies. Note the Government expects to increase this to $1million for new applications within two years as the market responds;
• At least AUD1.5 million in an eligible managed fund(s) or Listed Investment Companies (LICs) that invest in emerging companies listed on the Australian Securities Exchange (ASX); and,
• A ‘balancing investment’ of up to AUD3 million in fund(s) or LICs that invest in a combination of eligible assets that include other ASX listed companies, eligible Australian corporate bonds or notes, annuities and real property in Australia (subject to the 10% limit on residential real estate).

For a total investment of at least AUD 5 million.

Eligible investments for the Premium Investor visa will be investments in:

• An Australian managed fund
• Australian securities exchange listed assets
• Australian government or semi-government bonds or notes
• Corporate bonds or notes issued by an Australian exchanged listed entity (or wholly owned subsidiary of the Australian listed entity) or investment grade rated Australian corporate bonds or notes rated by an Australian Financial Services licenced debt rating agency
• Australian proprietary limited companies
• Real property in Australia (subject to the exclusion of direct investment in residential property and limit of 10% indirect investment in residential real estate as part of a fund’s net assets)
• Annuities issued by Australian registered life companies that do not repay capital during the qualifying period
• State and territory government endorsed philanthropic donations.

For a total investment of at least AUD 15 million.

Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers

The biggest change that will come into effect on 1 July 2015 is that investors on the 188C SIV will be unable to invest all their designated AUD 5 million into one passive investment product such as government bonds or real estate funds. With AUD 500,000 minimum required to be invested in venture capital or growth private equity funds, you may be better off considering the 132B where you are required to obtain AUD 1 million from a venture capital firm but obtain permanent residency from day 1. This is compared to having to wait 4 years under the 188C before being able to apply for a permanent resident visa. The 132 visas might be more attractive to business and investment migrants starting 1 July 2015.

Work Visa Lawyers is already working with relevant financial institutes which are lining up financial products that fulfil the requirements as a complying investment.

Source:

1. https://www.immi.gov.au/faqs/Pages/What-is-the-significant-investor-visa.aspx
2. https://www.austrade.gov.au/invest/significant-investor-visa-and-premium-investor-visa-programmes
3. http://trademinister.gov.au/releases/Pages/2015/ar_mr_150515.aspx

This information is accurate on 25 June 2015

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in all matters relating to Australian visa applications. Our areas of expertise include Skilled Migration visas, Business Skills Migration visas – 188, 132 and 888, Employer Sponsored Work Visas, Partner and other Family Migration visas as well as Migration Review Tribunal, Judicial Review and Ministerial Intervention.

If you require further information regarding your Australia visa options you can contact us through:

(08) 7225 5091 or +61 8 7225 5091

or   This email address is being protected from spambots. You need JavaScript enabled to view it.

Watch Registered Migration Agent (MARN 0640686) and Migration Lawyer Chris Johnston provide the latest updates to the Australia migration programme.

Topics covered include:

• Lower English Requirements for Skilled Graduate Visas
• 457 Visa changes include lower English
• Business and Investor Visa News
• Skilled Nomination visas – 190 and 489 program processing almost complete for the financial year
• Increases in Visa Cancellations
• RSMS 187 Policy Change
• WVL Invited to China as Part of South Australian Delegation
• Breaking News – Complying investments for SIV and PIV and Visa application

The Department of Immigration and Border Protection (DIBP) has announced that new Significant Visa (SIV) applications will be suspended from 24 April 2015 to 30 June 2015. The suspension of new applications is to facilitate changes to the complying investment framework.

What Does This Mean?

Current SIV applicants who have received an Invitation to Apply (ITA) and lodged their visa applications will not be affected by the suspension and any new rules introduced after or during the suspension. With changes upcoming it is best to lodge your SIV application as soon as possible if you have received an ITA.

While you can still submit an Expression of Interest (EOI) for the SIV uptill 23 April 2015, no further ITAs will be issued until after 1 July 2015.

More updates to follow...

This information is accurate on the 7 April 2015

Do you need help with an Australian visa application?

At Work Visa Lawyers we are experienced in assisting applicants in various Australian visa applications including General Skilled, Employer Sponsored, Business Skills, Family, and Migration Review Tribunal applications. Our vast experience allows us to understand that each business setup and investment portfolio is different and thus applicants can meet visa application requirements in different ways.

If you require further information regarding your Australia visa options you can contact us through:

(08) 7225 5091 or +61 8 7225 5091

or   This email address is being protected from spambots. You need JavaScript enabled to view it.